Capital Product Partners L.P. (CPLP) Receives $17.88 Consensus Price Target from Analysts

Shares of Capital Product Partners L.P. (NASDAQ:CPLP) have been given an average recommendation of “Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.88.

Several equities analysts have recently weighed in on CPLP shares. BidaskClub raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. ValuEngine raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research raised shares of Capital Product Partners from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a research note on Monday, February 4th. Wells Fargo & Co cut shares of Capital Product Partners from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $28.00 to $21.00 in a research note on Thursday, January 10th. Finally, B. Riley reissued a “buy” rating and issued a $14.00 target price (up from $12.25) on shares of Capital Product Partners in a research note on Thursday, April 4th.

Several large investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. grew its stake in shares of Capital Product Partners by 100.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,532,859 shares of the shipping company’s stock valued at $9,474,000 after buying an additional 2,272,183 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Capital Product Partners by 19.9% in the third quarter. JPMorgan Chase & Co. now owns 1,382,108 shares of the shipping company’s stock valued at $3,843,000 after buying an additional 229,516 shares in the last quarter. Goodman Financial Corp boosted its position in Capital Product Partners by 1.7% during the fourth quarter. Goodman Financial Corp now owns 963,964 shares of the shipping company’s stock worth $2,015,000 after purchasing an additional 16,522 shares during the period. Two Sigma Advisers LP boosted its position in Capital Product Partners by 18.3% during the fourth quarter. Two Sigma Advisers LP now owns 508,500 shares of the shipping company’s stock worth $1,063,000 after purchasing an additional 78,684 shares during the period. Finally, Two Sigma Investments LP boosted its position in Capital Product Partners by 273.9% during the fourth quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock worth $977,000 after purchasing an additional 342,493 shares during the period.

CPLP stock traded down $0.13 during mid-day trading on Thursday, hitting $11.11. 1,361 shares of the company were exchanged, compared to its average volume of 169,186. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.49 and a current ratio of 0.56. The company has a market capitalization of $209.02 million, a P/E ratio of 11.34 and a beta of 1.03. Capital Product Partners has a 1-year low of $10.30 and a 1-year high of $23.17.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Thursday, January 31st. The shipping company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.42 by $0.14. The firm had revenue of $61.51 million for the quarter, compared to the consensus estimate of $59.64 million. Capital Product Partners had a net margin of 0.13% and a return on equity of 3.24%. Analysts forecast that Capital Product Partners will post 1.52 earnings per share for the current year.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.

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